Funding from the NTF is allocated by my Department with the consent of the Minister for Public Expenditure and Reform, in accordance with the provisions of the National Training Fund Act, 2000.
Section 7 of the National Training Fund Act, 2000 provides that payments may be made from the Fund in respect of schemes, which are established to:
(a) raise the skills of those in employment;
(b) provide training to those who wish to acquire skills to take up employment; or
(c) provide information in relation to existing, or likely future, requirements for skills in the economy.
The proposed exchequer employer investment mechanism which would enable an increase in the National Training Fund Levy to be used to benefit Further Education and Training and Higher Education would require legislative amendment. The National Training Fund Levy is set at 7% in the National Training Fund Act 2000 and any increase in this rate would require an amendment to the legislation.